Feeds

China takes 2013's top offshore IPO crown

Cut price rag trader Vipshop bests all other foreign companies listing in the USA

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

US-Sino relations may have hit an all-time low over the past 12 months but for little-known Chinese tech firm Vipshop it has been an annus mirabilis after it became the best performing overseas-listed firm in the States.

Vipshop Holdings Limited, which owns the Vipshop.com online shopping site, saw its shares jump a whopping 124 per cent since its March IPO, some way in front of the next best non-US company debuting this year – Israel’s Caesarstone Sdot-Yam, whose shares rose 44 per cent.

The performance of Guangzhou-based Vipshop, which sells discounted fashion brands, is all the more impressive considering Bloomberg’s equity index of the most–traded Chinese shares in the US shows an increase this year of just 6.4 per cent.

It’s been a tough year for Chinese tech firms in the US, culminating in a presidential election dominated by the thorny issue of American jobs going to China and a House of Representatives Intelligence Committee report which labelled (non-US listed) telecoms giants Huawei and ZTE a national security risk.

Things could get worse before they get better for China’s US-listed tech firms, however, after the SEC decided to charge the Chinese affiliates of the Big Four for failing to comply with US securities law.

Some experts have speculated that this could ultimately lead to the de-registering of US-listed Chinese firms including tech giants China Mobile, search firm Baidu and web biz Sina.

That would be a blow to Chinese web giants Taobao and Sogou, which saw their blacklisting on the US Trade Representative’s office roster of Notorious Markets finally wiped after much work over the past year to remove pirated content from their sites. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.